FAQ: How is diminished value of my car calculated? How do you prove diminished value?
It is difficult to prove exact diminished value for any one vehicle because placing a value on the vehicle will be a subjective assessment made by different individuals. The most effective way to calculate diminished value is to hire an expert specializing in this field. This is usually an expert in car pricing, local market
Read MoreFAQ: How do I claim diminished value of my car after an accident?
If your vehicle was damaged in a collision caused by another driver, and you believe it has lost market value due to being in the collision, then you may present a diminished value claim to the at fault insurance company. Whether it will be paid or not is a different story.
Read MoreFAQ: How long does it take to settle a diminished value claim?
The time it takes to settle a diminished value claim in Texas depends on numerous factors. These may include the insurance company involved, how much evidence is needed to prove the diminished value, the extent of the repairs and/or re-repairs, etc. Sometimes a diminished value expert must be hired (usually on more expensive cars) to
Read MoreFAQ: Do Insurance companies pay diminished value?
A variety of factors will determine whether an insurance company will pay diminished value on a property damage claim in Texas. The age and condition of the vehicle, the make, model and year of the vehicle, the damages that were repaired and the insurance company involved will all factor in to whether a diminished value
Read MoreFAQ: Does Texas allow Diminished value claims?
Yes, in some instances Texas does allow an individual that DID NOT cause the car accident to make a diminished value claim for the loss of market value to their vehicle after it is repaired. This does not mean every vehicle will qualify. For example, a very old car may not have suffered any diminished
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